Xero accounts - ring fenced funds
Hello I am AAT L3 student and have started volunteering on the finance team at church. We have a xero accounting system which we are still learning to use. We have a couple of ring fenced pots of money which have been deposited into the bank account and credited into newly created accounts in order to ring fence it. One pot will be going to pay part of a salary and the other is for the rent of a property, both monthly. I would have expected to be able to debit the ring fenced pots each month so the funds go down, but it doesn't seem to be possible. The xero system is linked to the bank account so all incoming money is automatically debited into the bank. The only solution being used is to change the bank transaction manually each month so a new line is created each month and transferred into the correct pot, however I am unsure this is a transparent method which will stand up to external auditing which is due in a few months. The only solution I can think of is a separate bank account which would be logistically difficult and potentially will incur expense. Sorry if that doesn't make sense but any help would be appreciated. Thanks!